I'm not particularly concerned about foreign ownership, but I do believe that growing personal and government debt in the US are eventually going to cause some serious problems. There are many, many people that are getting themselves way over their heads in debt.
Clinton Didn't balance the budget. http://www.cato.org/dailys/10-08-98.html. Howard Dean is a socialist with huge Taxes demagoguery. and Gore was a peace of crap, just like anyother politician in the world. his Lockbox demagoguery was pure crap. Allowing more IOUs to build up within the trust fund can make the system look healthier on paper, but it does not create any real assets that can be drawn down to cover the program's long-term shortfalls. As most everyone knows, Social Security's long-term cash shortfall - which begins in 2014 - totals $122 trillion through 2075 ($19 trillion after adjusting for inflation.) Likewise, buying down debt can make us feel better, but it does nothing to help us cover Social Security's long-term liabilities anyway, your God Clinton is one the politician who are dealing with the Dubai-Port Crap while his wife is bashing the deal..
Thanks, your post is the best proof that future_shark's suggestion was disingenuous and was not going to work.
Right now, you're being an ass. How do you know who I voted for? Your entire statement is FOS. If you think that the democratic & republican parties are working in your best interest then you really are as stupid as you make yourself sound.
For all you free marketeer naysayers, here's a link that reaches broadly the same conclusions as EconomyInCrisis.org AND is endorsed by your patron saint, uncle Milty (Friedman): http://mwhodges.home.att.net/
Why not throw some wood on the fire! I think our economy is doomed fundamentally unless we rein in the spending or raise taxes. That being said this is a confidence game, con game for short. If the consumer stop spending the GDP goes down and then the Asian countries stop buying our government back securities and bonds and we can kiss the dollar good bye. How's that for a doomsday theory. Damn, can't gold go back down to $500 so I can unload some of these worthless USD! The only good thing about Bush is he had an alternative to SS and a good one. Other than that he is an idiot that will bankrupt our country with an uncessary war which will end up costing $1 Trillion dollars when it is said and done. Ok, maybe Clinton didn't balance the budget, but he was more fiscally responsible. Care to debate that one! LOL I just love this forum
If you look at the two, can't you see that taxes are unreasonably high already? And in comparison, there is much more fat that can be cut in the spending department. Anyway, I think the situation is so dire that raising taxes alone could not even solve the problem if the rate went to 100%.
I think the current policy is: Why raise taxes and control spending when you can just print more money?
First things first, I'm not American and I don't live in America so I've no political bias or agenda- simply a viewpoint from a distance. I think worrying about foreign ownership of companies in the US is completely ridiculous- you guys have your own fingers in pies all over the world (most importantly China and India) and if you took the time out to research US ownership in foreign countries, you'd probably be whistling a different tune on foreign ownership issues. As for the current state of US borrowing/spending, this is a theoretical problem that you will inevitably overcome before it genuinely comes to a head. Someone rightly pointed out that, relative to GDP, it's not as if things have got out of control beyond redemption and we live in times where credit is easily accessible and at a fantastic discount. I do buy the low inflation environment story and if you dont, I think you are just someone who wants to find another conspiracy story. You do have a f**king ridiculous president (or moreso a team operating the puppet) and I do think the lack of control on spending will mildly haunt you in time, along with the blatant lack of respect and dictatorship over other countries in aid to take care of the US. I hope I'm alive in 50 years' time when India and China have more economic clout and the whole word doesn't revolve around the US and a bit of humble pie has to be eaten and you can't expect the rest of the world to follow your suit. You'll need a different set of spin doctors at that stage. For those of you that think the US can't go on with the borrowing spree and that the end of the world is nigh, consider reporting seasons as a decent indicator as to whether it is all worth it. You'll find that your economy is far from in crisis and people will keep spending money and profits are healthy- that's what matters and you're staring at a situation where the global population is becoming more capable of buying a Big Mac and a Dell PC so think of another approach to doomsaying. I'm quite open to criticism, but if you don't know the meaning or spelling of 'facade', don't waste your time- just keep calling the market down whilst you continue to lose money. One day you will be right, but you'll have lost out on infinitely more money by waiting for a 40% downmove as opposed to a few hundred percent on the upside. P.S. Lower, flat tax rate is the solution. It is that simple
Clinton balanced the budget at the expense of the military and infrastructure. How long do you think those kinds of policies can go on before it causes a disaster?